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Prospectus

Invesco Government & Agency Portfolio

Government | Constant NAV

Permissible Investments

Invest in short- term, high-credit-quality money market
instruments, including direct obligations of the U.S. Treasury and other securities issued or
guaranteed as to principal and interest by the U.S. Government or by its agencies or instrumentalities, as
well as repurchase agreements secured by such obligations.

Objective & Strategy

Provide current income consistent with preservation of capital and liquidity.

Fund Highlights

The portfolio management team follows a conservative investment process with respect to minimal credit risk, interest rate risk and liquidity.

The fund is designed for short- to medium-term cash investments, operating cash, cash sweeps and the liquidity components of investment portfolios.

The fund aims to preserve capital, maintain liquidity and produce a competitive yield.

Cumulative Returns (%)

1Mo

3Mo

YTD

Since incept.

0.17%

0.53%

1.47%

49.01%

as of
08/31/201906/30/2019

Average Annual Returns (%)

1Y (%)

3Y (%)/th>

5Y (%)

10Y (%)

SinceIncept. (%)

2.14

1.31

0.81

0.42

1.92

The performance data quoted represents past performance. Past performance does not guarantee future results and current performance may be lower or higher than the performance data quoted. The investment return and principal value of your investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. The 365-yield represents standard one-day yield for the funds. The 30-day simple yield represents annualized results for the period, net of fees and expenses and exclude any realized capital gains or losses.

You could lose money by investing in the Fund. Although the Fund seeks to preserve your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

Effective Dec. 15, 2017, the Government & Agency Portfolio was renamed the Invesco Government & Agency Portfolio. There were no changes to the CUSIPs, tickers or investment objective.

Average annual total returns reflect reinvested distributions, net of expenses for the periods. The 7-day SEC yield more closely reflects the current earning of the fund than the total returns.

Weighted average maturity (WAM) and weighted average life (WAL)

Fund Documents

Materials & Resources

About risk

You could lose money by investing in the Fund. Although the Fund seeks to preserve your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

The information on this site does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial advisor/financial consultant before making any investment decisions.